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Source: ·
Interview location: Washington
Interview date: Tuesday 20th Nov, 2018
Organisation: U.S. Securities and Exchange Commission
Role: Commissioner

As the market for cryptocurrencies has grown, so has the oversight from the
various regulators who manage the different aspects of the financial
markets. Specifically, the SEC has been monitoring, responding to and
enforcing the rules by which they regulate the financial markets.

While the SEC initially took a hands-off approach to cryptocurrencies, they
have been increasingly providing guidance as to how they view the different
parts of the crypto space. From enforcement action against ICOs which are
deemed unregistered securities to ruling on proposed rule changes to allow
the trade of Bitcoin ETPs, it is becoming clearer that just because a
project is a cryptocurrency, it can’t sidestep the rules which have been in
place for decades.

The Commission has yet to approve any ETP, so far, rejecting every
application. Commissioner Peirce, a vocal proponent of supporting
innovation, dissented after the SEC disapproved the proposed rule change to
list and trade shares of the Winklevoss Bitcoin Trust on Bats BZX Exchange,

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